Leading global companies are embracing the remote working culture. Here’s why!
The first thing you probably think of when you hear someone say they are working “remotely” is an image
of a 20’s something millennial with a laptop on a beach in Bali, sipping mojitos and “living the life”
Well, not quite!
Working remotely is no longer a wannabe idea. It has become a serious business practice offering numerous benefits to organizations.
A survey by Global Workplace Analytics & Flexjobs indicates that remote working has grown 91% in the last 10 years and 159% in the last 12 years.
A study by Forbes estimated that 50% of America’s workforce will soon be remote.
Global Workplace Analytics estimates that a typical business can save $11,000 per person, per year through remote working . Here are the top 6 reasons why having a remote team is a great idea.
1. Tap Into the Global Talent Pool
In a traditional work environment, you are forced to compete with other companies for the cream of the crop, that’s usually a small talent pool. These companies could offer higher perks/incentives and outbid you, forcing you to settle for ‘second-best’.
With remote working, you don’t have that limitation. You can rope in a talented Full-Stack developer from Siberia or a UX designer from Spain to join your team. With video conferencing and collaboration software, it is almost the same as having them in the boardroom.
Tap into the global talent network and work with the best in the world.
2. Better Productivity
This may seem improbable. An employee at home is more likely to “Netflix and chill” than work, right?
The research backed answer – NO
A 2-year study by Stanford University analyzed productivity levels of 500 traditional and remote workers and found the remote workers were more productive by a full working day. They also took fewer breaks and fewer sick days. The company saved $2,000 per employee in rent as they did not need excessive office space.
It is proven that employees, when not put under surveillance, tend to “own” their responsibilities and become better problem solvers. It also reduces office overheads, making it a win-win!
3. Fewer, More Purposeful Meetings
When you can have a meeting anytime, chances are that they are trivial, without a clear objective. This is a concern reported by most employees in leading MNCs.
With remote working, you reserve meetings for only very important issues (due to timezone differences etc.) and will probably drop a message on Slack for something that is not a priority.
4. Retain the Best employees
People make companies. Not the other way round.
The good employees are the ones who are “self-starters”. They don’t need a boss looking over their shoulder.
With remote working, you give employees autonomy & flexibility but most importantly, professional respect. It is proven that when completely entrusted with a task, employees turn out high-quality work and come up with better ideas than when they are micromanaged.
With remote hiring, you could not only work with the best talent in the world, but also create an environment that retains great talent.
Remember, flexibility = better results
5. Better Incentivization
Why do employees work for a certain company?
It could be attractive to pay packages, holiday discounts, bonus packages, stock options, etc. These incentives may be powerful but treat the employee as a commodity who can be “bought” by another company offering better perks.
When you grant employees the option to work with complete ownership, they feel a sense of accomplishment & responsibility that naturally translates to their work.
Remote working possibilities are a great way to show an employee that he/she is valued and respected for the skills they bring to the table.
6. Better Networking & Growth Opportunities
Most employees in a traditional 9-5 setup need to juggle home and work responsibilities. They don’t have sufficient time to attend seminars or meet a colleague for a networking lunch.
Today’s world thrives on proactive networking. By knocking out the 9-5 paradigm, you allow your employees to collaborate more and improve themselves.
There it is! The top 6 reasons why a remote working culture is a great idea (We aren’t even counting the massive reduction in carbon footprint and stress saved in daily commuting!)
